ATLANTA – New vehicle prices increased modestly in June, according to data released by Kelley Blue Book, a Cox Automotive brand. 

The average transaction price for a new vehicle purchased in June increased less than 1% year-over-year to $49,758, as buyers continued to migrate to a mix of more affordable vehicles. 

Vehicle sales in June were healthy, with the seasonally adjusted average rate at 16.5 million, the highest point in 2026. Sales volume, according to Kelley Blue Book estimates, was higher by 7.6% year-over-year.

Sales of subcompact SUVs – average transaction price of $31,113 in June – increased by more than 23% year-over-year, helping hold down the industry-wide, sales-weighted average transaction price. Small and medium pickup truck sales jumped by 12.3%, while more expensive, full-size pickup sales increased only 2.5% year-over-year, below the industry average. While individual product and segment prices climbed, buyers generally gravitated toward lower-priced segments in June.

“One of the biggest shifts in today’s market is that consumers are no longer waiting for uncertainty to disappear,” said Erin Keating, executive analyst at Cox Automotive. “After several years of inflation, high interest rates and policy volatility, many buyers have come to view uncertainty as the new normal. If they need a vehicle, they’re moving forward and adjusting their budget and vehicle choice accordingly. The strength of midsize SUVs, with sales up more than 16% year-over-year, shows that consumers are gravitating toward the center of the market where value, utility and affordability intersect.”

Other key findings in the report include:

  • The new vehicle manufacturer’s suggested retail price – commonly called “the asking price” – was $51,654 in June, mostly unchanged from the revised lower May MSRP of $51,366. Year-over-year MSRP growth moderated 0.9% in May. The long-term average annual MSRP increase is 3.4%, suggesting price inflation in the auto market remains well below average.
  • Incentive spending in June was 7% of average transaction price, up from 6.9% in June 2025 and down from 7.1% in May. Incentive spending has averaged 7% of average transaction price over the past 13 months, suggesting real discipline by automakers focused on bottom-line profitability. Incentives remain elevated for full-size pickups and luxury vehicles.
  • Among the five best-selling vehicle segments in June, annual average transaction price gains in June remained well above the industry average of 0.6% and closer to long-term average annual gains. By volume, the top five segments accounted for 63% of total industry sales, a slight increase from June 2025. Transaction prices in the largest segments were: midsize SUV, $49,792, up 2.2% year-over-year; compact SUV, $37,707, up 3.7% year-over-year; full-size pickup truck, $66,427, up 2.1% year-over-year; subcompact SUV, $31,133, up 2.3% year-over-year; and compact car, $27,978, up 2.4% year-over-year.
  • EV prices declined year-over-year in June for the sixth consecutive month. The average price paid for a new EV was $56,238, down 4.5% from a year earlier but higher compared with May. Initial estimates suggest EV sales declined month-over-month in June after a strong performance in May.